Warren Buffett Sr.'s remarks hit the nail on the head.

In fact, in the mid-90s of the last century, there was already a bubble in the NASDAQ market, and many startups were desperately burning money and doing publicity, but they ignored the core thing of a company - how to make money.

In the past two years, countless Internet companies have gone bankrupt, which has vividly deduced the correctness of this argument.

The carnival of the past few years came to an end, leaving chicken feathers all over the ground, Ye Dongqing easily spent thousands of dollars a month to recruit programmers who originally received a monthly salary of 20,000 or 30,000 US dollars, there were too many unemployed people, they could not find a job, and would rather run all the way from Silicon Valley on the West Coast to New York to make a living.

Turning over the traditional companies at this time, the market value is generally more than ten or twenty times the annual profit, and the fluctuation is not large, and the price-earnings ratio of high-risk enterprises is only five to ten, which is stable and safe, and is determined by profits.

This is the focus of Buffett's investment, it is easy to buy the investment secrets of this old man, but not everyone can learn the essence, whenever hot money pours into the stock market, after pushing the stock price up, it often means that there are too many bubbles, and the risk of stock market crashes increases, but unfortunately many investors are too blind and do not understand this truth.

Every time I chase high, it's like dancing on the edge of a cliff, and no one knows when to fall.

Ye Dongqing understands that if you want to attract Buffett's attention, you must come up with something real, which is much more difficult to fool than ordinary investors, even if you take out a high interest rate of 50% annualized, it is difficult to impress him without a guarantee, after all, at this value, the things you pay attention to have long exceeded the money itself, and what you want when you are old is a sense of satisfaction and achievement, not money.

It is no exaggeration to say that Mr. Buffett already has everything he wants, fame and fortune, and is at the top.

Thereupon.

Ye Dongqing smiled at the moment: "Now they have paid the price for their greed, there are still a bunch of junk companies left in the NASDAQ Internet sector, but after a period of decline for more than two years, the gold has also been exposed on the river beach, I need someone to give me money to buy equipment, and then enter the gold panning."

Now there are several great companies in front of me, and I still lack the capital to invest in them, I hope you can cooperate with me, you pay the money, I give the brain, and after the money is earned, we will divide it equally, and if it turns out that my vision is wrong, I will return all the principal to you at the highest interest rate on US Treasury bonds. It's been so successful in other fields, don't you want to be called a tech giant one day, sir? These are great companies that are changing the world and changing the habits of human society. ”

Next to him, Buffett's old secretary was just laughing, thinking that he was another arrogant young man.

The old man sitting opposite Ye Dongqing was laughing, and he told: "Regarding the view that the NASDAQ index has bottomed, we have the same opinion, the question is why should I believe your vision? If you can come up with a large amount of bonds, or Coca-Cola shares or something like that, I will be happy to give you money to invest, but it seems that you don't have that much money, otherwise you wouldn't try to get investment from me, right?" ”

Nodding in agreement with this statement, Ye Dongqing asked Buffett Sr.: "How much money do you think I had three months ago?"

The other party didn't answer, which made him a little embarrassed, and took the initiative to say: "After someone stole money, I only had more than a hundred dollars on me, and now I have tens of millions of dollars, the reason why I say this in front of you is to tell you that I am a capable and visionary person, when you first started, the growth rate was definitely not as fast as mine." ”

"That's right, it took me many years to get my first $10 million. ”

"I want you to believe me once, invest me 50 million dollars in the beginning, and then you can add it when that company is profitable, and if the return is less than 200 percent in five years, then I won't take a penny, and after that, we will each have half of it. ”

Ye Dongqing is still trying.

If he can't get the money now, he can only miss many opportunities in vain, but if he gets it, at least half of the income will be made, and this money will be considered an extra profit, extra money.

Even if he didn't say that the old man would invest in himself, anyway, except for the back and forth gas money, he just wasted some time and lost nothing.

Warren Buffett listened very carefully, and many people usually come to him to try to get investment, entrepreneurial capital, etc., but there are not many young people with such a big appetite, and they open their mouths to be 50 million dollars, and overconfidence is like conceit.

Feeling interesting, he hesitated for a moment and then changed the topic: "Last night you said that you were investing in crude oil futures recently, what is the starting price and what is the expected interest rate?"

"The average price is 25 US dollars and 89 cents, and I hope to get a profit of about 15 percent within three months. ”

"How much leverage?"

"A deposit of four percent, and another $10 million as a supplementary deposit, otherwise no middleman would dare to take the job. ”

Ye Dongqing said easily, and old Buffett suddenly looked at him with a strange look, and said in his mouth: "It seems that your courage is greater than I imagined, I have never used such a high leverage in my life, there are advantages and disadvantages to the character of a gambler like yours, and it is easy to lose too much principal at once." Although I am also bullish on crude oil futures in the near future, I have no intention of investing.

Actually, I'm interested in your advice, but I want to wait until you make a difference in the crude oil futures market, and I have to know if your vision is really as good as you say it is. ”

"But by that time, it is estimated that I will not be short of money, if I am not more optimistic about the long-term interests of the warrants, my company can afford the 50 million US dollars, there is no need to come and bother you. ”

To tell the truth, Ye Dongqing felt that most of the time he was going to fail, because Mr. Buffett's personality was more stable than he imagined, and he was not moved at all on the premise of promising to protect his capital, but revealed the meaning of avoiding it.

It is indeed a sound character, which makes Berkshire Hathaway safe while also missing out on many great opportunities to make money.

Don't look at the giants of Wall Street, who talk all day long about how much money they lost in the process of the collapse of the Internet bubble, but they are calculated by the value of the peak of the stock market.

In this process, the old Buffett did not get a piece of the cake, probably because of his age, and he tried to pursue it as safely as possible, without the enthusiasm of young people.....